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Oil prices rise as Saudi Arabia signals production cut

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Energy minister’s remarks help lift price, with Opec likely to confirm move next month

 

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No surprise there. Gas goes down before the American midterms after the Kashoggi murder, then right back up when republicans maintain their lead in the senate. All a move in self preservation.

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‘Markets have got it wrong’ Saudi Arabia tries to justify decision to cut oil productionMARKETS have overreacted to fears over the impact US sanctions on Iran would have on the the world’s oil supply, Saudi Arabia’s energy minister Khalid al-Falih has said as he justified the decision to reduce production levels.
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